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Answer the following question with a specific explanation Question 6 Domestic demand for fidget spinners in the domestic economy is characterized by the equation P
Answer the following question with a specific explanation
Question 6 Domestic demand for fidget spinners in the domestic economy is characterized by the equation P = 100 -2@, domestic supply is characterized by the equation Q = P - 10, and the world price equal to 60. Then the export subsidy of 10 per unit will O lead to a decrease in the world price by 10 O increase domestic exports by 10 O increase domestic exports by 15 O change nothing Question 7 1p Domestic demand for fidget spinners in the domestic economy is characterized by the equation P = 100 -2Q, domestic supply is characterized by the equation Q = P - 10, and the world price equal to 60. Then the export tariff of 10 per unit will O lead to a decrease in the domestic price by 10 O increase domestic welfare O decrease domestic exports by 10 O be equivalent to an export subsidy of 10 per unit Question 8 A tariff protecting domestic monopolist will O generally lead to a higher level of domestic welfare than an equivalent quota O always improve welfare of a domestic country O be always equal to an equivalent quota O generally lead to a lower level of domestic welfare than an equivalent quotaStep by Step Solution
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